Lockheed Martin Corporation $LMT Stock: Tamar Securities LLC Lowers Holdings

Tamar Securities LLC cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,635 shares of the aerospace company’s stock after selling 944 shares during the quarter. Tamar Securities LLC’s holdings in Lockheed Martin were worth $16,110,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LMT. Norris Financial Group LLC acquired a new position in shares of Lockheed Martin during the 1st quarter worth approximately $2,321,000. CX Institutional raised its position in shares of Lockheed Martin by 527.4% in the third quarter. CX Institutional now owns 18,415 shares of the aerospace company’s stock valued at $9,378,000 after buying an additional 15,480 shares in the last quarter. Talon Private Wealth LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $3,743,000. Meeder Asset Management Inc. bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $11,036,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Lockheed Martin in the second quarter valued at about $4,796,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 1.7%

NYSE:LMT traded down $9.73 during trading hours on Friday, hitting $566.43. 1,387,287 shares of the company were exchanged, compared to its average volume of 1,562,060. The company has a fifty day simple moving average of $548.25 and a 200 day simple moving average of $569.65. Lockheed Martin Corporation has a one year low of $437.25 and a one year high of $692.00. The stock has a market capitalization of $130.85 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.07. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping the consensus estimate of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm had revenue of $20.71 billion during the quarter, compared to analyst estimates of $20.48 billion. During the same period last year, the company posted $6.95 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts expect that Lockheed Martin Corporation will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. The ex-dividend date is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a yield of 2.5%. Lockheed Martin’s dividend payout ratio is currently 49.02%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LMT shares. Jefferies Financial Group reiterated a “hold” rating and set a $615.00 price target on shares of Lockheed Martin in a research report on Sunday, October 25th. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. UBS Group raised their target price on Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research note on Wednesday, October 14th. Finally, Morgan Stanley boosted their price target on Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $647.00.

Lockheed Martin News Summary

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.